Most people associate Kirin with beer.
That may be changing.
Today Kirin revealed it is buying health and wellness company Fancl for JPY 220 billion (US$ 1.3b )
According to Bloomberg the purchase price is a 43% premium to the stock’s closing price.
This is not Kirin’s first foray into health. It has a pharma and biotech business called Kyowa Kirin and in 2023 acquired famous Australian vitamin & supplement brand Blackmore’s.
Here in Japan in the yogurt aisle of supermarkets you can see this Kirin immune system brand (imuse) packaged in colours very close to Kirin beer.
Kirin’s record on integrating acquisitions is at best questionable. It has previously paid big for a beer business in Brazil which it sold at a massive loss to Heineken.
Kirin’s acquisition of Fancl says as much about its healthy ambitions as well as what it really thinks are the prospects for the beer business.
Should we say Campai?